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60 Baths
84,557 SqFt
60 Baths
84,557 SqFt
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 84,557 sqft
Price per Sqft $56
Subdivision Frischkorns Joy Road
MLS Listing ID 20251050723
Style UpperLowerApartment
Full Baths 60
Year Built 1951
Lot Size 1 Sqft
Property Sub-Type MultiFamily
Property Description
LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND
THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT HAS BEEN RENTED TO SECTION 8 TENANTS,THE MONTHLY DIVIDENDS ARE JUST UNDER $50,000 A MONTH AND ARE PAID BY THE FEDERAL GOVERNMENT. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGERTIPS SOON!
NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Area Area05092Detjoydbnhtgrnfldlimits
Rooms
Basement Finished, Full
Interior
Heating ForcedAir, NaturalGas
Exterior
Pool None
View Y/N No
Garage false
Building
Foundation Basement, BrickMortar, Poured
Sewer PublicSewer
Water Public
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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